Phlexglobal is certainly not furious to be named as one of the fastest growing privately owned pharmaceutical businesses in the UK.
The Catalyst Pharma Fast 50 ranking includes companies that have had at least £5 million worth of revenues in the assessment year and have been classified between 4 pharma business areas; development, outsourcing, pharmacy chains and consulting. Ranked at number 16, Phlexglobal is categorized within outsourcing, for its provision of outsourced eTMF systems and services. The ranking underpins the opinion that the key to big pharma capitalizing on the growth of the industry is outsourcing to small/medium size companies offering specialist niche solutions.
Many of the companies listed have attracted investment interest through mergers & acquisitions and from private equity investors. This includes Phlexglobal, which was the subject of significant investment by funds managed by Vitruvian Partners at the end of last year. Private equity is and will continue to target pharma sector businesses with growing revenues in high growth areas.
So what does this mean for Phlexglobal? The plan is continued growth, accelerated product innovation and expanded global service capabilities. With the outlook for the pharma industry being so positive there is every reason to expect all the businesses in the Pharma Fast 50 to grow even more in the next year. Watch this space….
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